Income Tax Rates 2017-2018

Income Tax Rates for FY 2017-2018

Income Tax rates depends on your total yearly income. If your yearly income exceeds these slabs you need to pay tax on your income depending on your income. Even, if you are earning less than taxable income, it is advisable to file your tax returns.

Income tax exemption limit for FY 2017-18 is up to Rs. 2,50,000 for individual & HUF

Income Slab

Tax Rate

Income up to Rs 2,50,000*

No tax

Income from Rs 2,50,000 – Rs 5,00,000

5%

Income from Rs 5,00,000 – 10,00,000

20%

Income more than Rs 10,00,000

30%

Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore.Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.